Frequently Asked Questions

Why can’t Meed solve my customer service issues?In order to protect your privacy and account security, only the Meed Member Bank with which you opened your account has access to your personal and account information. All of your private personal information is controlled and stored at the Member Bank. As a result, only the Member Bank can answer specific questions about your account. We have worked really hard with our Member Banks and your privacy and security is very important to us.  

When will Meed be available in my country?Meed is working to expand as quickly as possible. Follow Meed on Facebook and Twitter to be amongst the first to know when we launch in new markets.

Is Meed a pyramid scheme/multi-level marketing company?Absolutely not. First and foremost, Meed’s goal is to connect people with access to Member Banks that offer innovative banking solutions designed for today’s world. SocialBoost™ is designed to create a potential for revenue, based on an interest-sharing model within the Meed Network of Member Banks. This revenue stream is based on creating a global community, should you choose to refer other Meed users. Unlike multi-level marketing initiatives, your network is only comprised of Meed Users you refer directly. It does not employ multi levels of invitees.

What are the services Meed Member Banks offer?Meed Member Banks offer a Checking Account (paperless checking account), an interest-bearing Security Savings Account, Peer-to-peer (P2P) domestic & international transfers between all Meed users, a secured line of credit, and SocialBoost™. Please refer to the terms and conditions issued by your Meed Member Bank for more information on each of these services.

Can I have a joint account?Unfortunately, not at this time. If you would like to establish a separate account for a spouse or family member, please refer them using your email address so they can open their own Meed Member Bank account with a Member Bank.

What kind of card is the Meed Member Bank card?The Meed Member Bank card is a debit card issued by a Member Bank that can be used anywhere the bank’s network permits and is accepted.

What is Meed?Meed is a financial technology company that provides access to a global network of Member Banks. Through the Meed Mobile Application you can access your Member Bank account for the services indicated.

What is GlobeOne™?GlobeOne™ is a worldwide membership organization, committed to improving people’s financial health by providing access to products that support inclusion and financial mobility.

Do I have to join GlobeOne™ before applying to Meed?Yes. You are required to have a GlobeOne™ Member ID in order to signup for Meed and any other member services that GlobeOne™ offers in the future.

Why do Meed’s Member Banks charge a monthly fee?The monthly fee that Member Banks charge is essential to cover the standard bank operating costs of providing the services within the bank package of products.

Is there an overdraft fee?Our users don’t like overdraft fees, and neither do we, so our Member Banks have eliminated them for Meed users!

How do I pay my monthly Subscription fee?The monthly subscription fee is automatically deducted from your Checking Account on a monthly basis. If there are insufficient funds in your DDA, the fee will then be deducted from your line of credit.

What are the fees for a Meed Member Bank account?Meed Member Banks are transparent about all costs associated with your account. The only fees associated with your Meed Member Bank account include: • A monthly Subscription fee of $9.95. • A 2% foreign exchange fee (only for international P2P transfers). • A minimum charge (varies by bank) to cover mailing costs, should you elect to receive paper statements by mail. • If you lose your debit card, there is a charge for a replacement (varies by bank). • ATM withdrawals are free when accessing your account from one of your Member Bank’s ATM machines. Your first two monthly ATM withdrawals are free if you are using an ATM outside of those owned by your Member Bank. Additional withdrawals, transfers and balance inquiries from ATMs at non Meed Member Banks may be assessed a fee. You may also be charged a fee by the ATM operator or any network used.

Why did my application get denied?The decision to provide a Member Bank account rests with the Member Banks themselves. Only the Member Bank reviewing your application can provide information as to why an application may have been approved or denied.

What is the verification process for a Meed User ID?Once you have registered for a Meed ID, you will receive an email from the Member Bank with a verification code. This code is used to verify that you are the person applying for a Meed account. You cannot continue your Meed application unless you verify your identity.

What are the features of a Meed Account?A Meed Account includes a paperless Checking Account, an interest bearing Security Savings Account, Peer-to-peer (P2P) domestic and international transfers between all Meed users, a co-branded debit card, and SocialBoost. In addition to these services, you can also view account balances and find Member Bank ATM locations.

How long does it take to receive my card?Cards are sent from the Member Bank and are typically received within a week of opening your account.

How long does it take to process my application?Applications are processed as soon as possible once received; however, the review timeframe varies by bank.

Can I save an application and complete it later?Absolutely. During the application process your entries will be saved as you go so you can resume the application at a later date. It’s an easy process to complete so don’t worry.

Do I need to have a smartphone to use Meed?Your Member Bank account and services are accessible either through your smartphone or Meed.net. You’ll get a lot more out of your Meed Member Bank account through our mobile application. The app is required for photo check deposits. Although it is possible to access all Bank features through Meed.net, Meed’s Mobile Application is designed primarily for smartphone use and offers Meed Users superior access to bank services wherever there is service.

What are the requirements to apply?If Meed has engaged with Member Banks in your country, you must be 18 years old or older, have a valid government issued ID, and a permanent address.

Can I open a Meed account if I have bad credit or no credit history?Meed’s Member Banks make every effort to provide accounts as acceptable by law. While there is never a guarantee of an account approval, every effort is made to accommodate applications wherever possible, and in compliance with law.

How will I know if I have been approved for a Meed account?Member Bank which is providing Meed Financial Services will confirm your application status through the email address you provided during the application process.

How do I access the Meed Mobile Application?Meed Mobile can now be accessed in two ways: Visit us on your mobile browser, at Meed.net or download the mobile application through the App Store and Android Market respectively.

Do you offer a Mobile application?Yes. Meed’s Mobile Application is available for download on iTunes and Google Android stores.

What happens if I overdraw my Transactional Account?If you have overdrawn your Transactional Account that means that you have exhausted all available balances in your Transactional Account and any available credit in your LOC. You should make a deposit to your Transactional account as soon as possible to cover the shortfall and avoid losing your Meed Account privileges.

How do I send money to another person?Meed Member Banks provide domestic peer-to-peer (P2P) transfers directly through your Meed application to other domestic Meed users. Simply select the ‘P2P Transfer’ option in your Meed Mobile Application or online at Meed.net and follow the simple steps.

How long does it take for money transfers to reach the recipient?Meed User to Meed User transfers occurring during business hours happen in nearly real time aka fast.

Can I transfer money out of my home country to non-Meed users?No. Sorry.

What is a P2P transfer?This feature allows a Meed user to send/receive funds to/from other Meed users. There is no fee domestically and no more than a 2% foreign exchange fee internationally.

What is a Meed Member Bank Security Savings Account?Meed Secured Savings Account, or SSA, is an interest-bearing account that encourages long-term savings. There are withdrawal restrictions until age 59.

How can I move my funds from my Checking Account to my Security Savings Account or my Line of Credit?You can transfer funds from your Checking Account to your Security Savings Account or make a payment to your Line of Credit from within the Mobile App or online at Meed.net. Simply open the ‘Transfer’ menu and follow the simple steps.

Can I borrow more than the 75% of my Security Savings Account balance?Unfortunately, no. Meed Member Banks limit users to the 75% limit as a safety precaution for the user and to help ensure their account remains open.

How often can I borrow against my line of credit?You may borrow against your line of credit as often as you like as long as you have sufficient funds available and your account remains open with your Meed Member Bank.

What happens if I can’t make my Line of Credit payments?Individuals who fall behind on their payments should contact their respective bank to find a solution. Individuals who are unable to make payments may risk the chance of having their account frozen.

What happens if I overdraw my Checking Account?If your Demand Deposit Account doesn’t quite have enough to cover the cost of a purchase, additional funding is automatically covered by any available credit in your Line of Credit account. But if you don’t have sufficient funds available in your Line of Credit, that purchase may sadly be denied.

How do I access my Line of Credit?Access to your Line of Credit account is provided through your Checking Account. There is nothing you need to do to activate your Line of Credit. If there are funds available in your Line of Credit, and you make a purchase where funds are not available in the Checking Account, your Line of Credit is automatically established at 75% of your Security Savings Account balance.

What is a Meed Member Bank Line of Credit?As a user of Meed, we allow you to advance and use up to 75% of your current Security Savings Account balance.

What is a Meed debit card?Your Member Bank will mail you a co-branded debit card.

How can I deposit funds?Funds can be deposited into your account at your Meed Member Bank branches, through direct deposit, by account transfer, through remote check deposit, or via ATM (where applicable under your Member Bank account terms and conditions).

How do I move money from a checking account at another bank to my Meed Member Bank account?You can transfer funds into your Checking Account from external accounts based upon the transfer policies of your non-Meed Member Bank. You may also be able to make a deposit through the remote check deposit on the Meed Mobile Application.

What is a Meed Member Bank Checking Account?A Meed Member Bank Checking Account is a checking account that includes Bill Pay, eChecks, and ATM usage.

What happens if I set up a Bill Pay payment but I do not have sufficient funds in my account?If there are no funds in your Checking Account, then the payment will be applied to your Line of Credit. If your Line of Credit has reached its limit, then the payment will not be processed. An email alert will be sent to you informing you of the returned payment.

Whom can I pay with Bill Pay?Any business which has provided you with an account number and mailing address can be paid using Bill Pay.

How do I set up payees in Bill Pay?Bill Payees can be added by selecting the Bill Pay tab from the ‘More’ Menu on your Meed Mobile Application or online at Meed.net. Select ‘Payee,’ then ‘Add New Payee’

Which accounts can I use for Bill Pay?Funds are always taken first from your Checking Account and then your Security Savings Account. This is done to help limit your interest charges and provide the optimum fiscal management for your financial well-being.

How do I cancel a Bill Pay transaction?You can cancel a Bill Pay transaction in the Bill Pay section of the More Menu on your Meed Mobile Application or online at Meed.net. Select the ‘Scheduled/Recent’ tab, choose the Bill Pay you want to cancel and select the ‘Cancel Payment’ option. The Bill Pay transaction cannot be cancelled after the transaction has already been processed. Refer to your Meed Member Bank bill pay policy for more information.

How do I pay bills?Bills can be paid through the Bill Pay section of the ‘More’ Menu on your Meed Mobile Application or online at Meed.net.

How do I know if my Member Bank offers bill pay?Your app will show whether or not your Member Bank supports the Bill Pay function.

What is Bill Pay?Bill Pay is a simple and convenient way to pay your bills. To make a bill payment, enter the required information in the ‘Bill Pay’ section of the ‘More’ Menu on your Meed Mobile Application or online at Meed.net.

How can I find ATM locations through the Meed Mobile Application?The ATM finder can be found in the ‘More > ATM Finder’ tab.

What is the difference between a Security Savings Account and a Checking Account?Your Checking Account is intended for daily spending needs, while your Security Savings Account is for building savings and potentially long-term wealth. Think of it like this: one for now and one for later.

Can I become a Meed user using my existing bank account?No, you must establish a Meed account with a Meed Member Bank to join Meed.

How do I make a mobile deposit?If available, checks can be deposited directly from your mobile phone. Simply open the More menu and click on Check Deposit, then follow the simple instructions.

Why is my deposit automatically being swept into my Security Savings Account?When signing up with a Meed Member Bank, you are given the option to automatically have the outstanding balance of the Line of Credit automatically reviewed to determine if there is an amount owed. If you choose to automatically move funds from your checking account to the loan payment balance, the funds will be moved automatically to cover the outstanding amount. This is done to help limit your interest charges, and provide automated management tools for your financial well-being. This service is optional and requires you to opt in.

Are there special circumstances that allow me to withdraw from my Security Savings Account?Yes, each Member Bank has established hardship rules that allow users to withdraw funds from their Security Savings Account without penalty. You have the option of withdrawing on demand outside of such hardship rules; however, in such instances your Meed Member Bank accounts will be closed. Please check with your Member Bank for the specific details on qualifying for a hardship withdrawal.

What should I do if I plan to use my card while traveling abroad?You should always alert your bank in advance of traveling abroad so the account isn’t frozen while traveling due to suspicious activity.

What do I do if my account has been compromised or reflects unauthorized charges?Immediately contact your Member Bank and let them know of the situation so they can protect your account and further investigate the circumstances.

My phone/Meed card got stolen. How do I make sure my Meed Member Bank account is safe?As a precaution, you should alert the bank which administers your Meed Member Bank account immediately if your phone or card are ever stolen. Upon alerting your Member Bank, a representative will review your account for any unauthorized transactions. Please note that when you report your card as lost or stolen, we will immediately deactivate your card and send a new card with a new account number to you for your protection. We are very sorry for this inconvenience.

How do I know my money is safe with a Meed Member Bank?Meed Member Banks have made it a priority to be fully compliant with applicable requirements. Your money and your account are held by the respective Member Bank and protected by regulatory oversight.

How do I know my information is secure on the Meed Mobile App?We are proud to have partnered with Kony. Kony is trusted by the world’s largest and most highly regulated companies in industries such as financial services and healthcare, and is committed to the highest levels of security for it’s enterprise customers. 

How can I access the account of a deceased Meed user?We sympathize with your loss and the respective Member Bank associated with the Meed Package account will be able to help identify the steps you need to take.

Where can I find more information on a Member Bank’s privacy policy?Once you have been approved by a Meed Member Bank, their privacy policy can be found on the Meed application under ‘More > Privacy Policy’ or by logging into your account online at Meed.net.

Where can I find more information on Meed privacy policies?The Meed privacy policy can be found at Meed.net.

Do I have to pay taxes on my SocialBoost™ earnings?While tax laws differ locally, SocialBoost™ earnings are likely subject to taxation. Please check with your Member Bank or local tax outlets for more information.

How many people can I invite to Meed?There is no limit to the number of people you can invite to Meed. You increase your potential for SocialBoost™ earnings, as well as the entire Meed community’s potential for SocialBoost™ earnings by referring as many people as possible.

Can I switch my Meed invite/referral to someone else?Not at this time. Once you list a current Meed user as your referral, they maintain that status for the duration of your Meed Member account.

Can I invite Meed users from other territories into my SocialBoost™ network?Yes, your Meed network is not limited by the country you live in. You may invite people from other territories to join Meed as long as Meed is offered in each respective country.

Am I obligated to refer new Meed users?No, you are not obligated to refer prospective users to Meed. However, if you would like to participate in SocialBoost™, you need to refer at least 1 user, who opens an account with a Meed Member Bank. Meed users who refer other users have a greater opportunity for SocialBoost™ earnings potential.

Why is my SocialBoost™ income low?SocialBoost™ income is correlated to the number of users you’ve invited whom have opened an account with a Meed Member Bank and accumulated interest charges on their Line of Credit, and the size of the global community. The more Users you invite who utilize their Meed Member Bank Line of Credit, the greater potential for your Personal Community income and your distribution from the Global Community. Your SocialBoost™ income can grow as your Personal Community and the global community grow and as Meed expands its network. Help the community grow, and watch your income grow.

Why is my SocialBoost™ income inconsistent?SocialBoost™ income is determined by the borrowing activity in the Meed network. As a result, income will vary each month.

Why am I not receiving my invited Users’ SocialBoost™ distribution?SocialBoost™ is available to active users with an open account. If your account is not open, you will not be eligible to receive SocialBoost™ distributions. If you feel you are not receiving the appropriate distribution, refer to the SocialBoost™ graphs located on the mobile application and verify your number of invited Users. Remember, your invited users must have incurred interest charges on their Line of Credit in the prior month and identified you as their referring user in order for you to receive a Personal Community SocialBoost™ distribution for that month.

When do I receive my SocialBoost™ distributions?You will receive your SocialBoost™ distributions on a monthly basis, within two weeks of your statement.

How can I calculate my SocialBoost™ income?The best way to learn about your SocialBoost™ income is to refer to the SocialBoost™ graphs located on the mobile application. There you can see the historical income you have received for SocialBoost™ as well as your total number of invited users, your historical savings and the Personal and Global distribution totals. In order to respect the privacy of our users, your Member Bank and Meed will not disclose any specific credit information or account balances of your invited users.

Can I have my entire SocialBoost™ distribution deposited to my Checking Account or Security Savings Account?No, SocialBoost™ distributions will always be split equally between your Security Savings Account and Checking Account.

How does SocialBoost™ work?SocialBoost™ is the bank giving back interest charges accrued on Lines of Credit. First, individual users with open accounts receive payments from the bank equal to 25% of the amount of interest billed to their invitees LOC as their Personal Distribution each month. That accounts for approximately half of the SocialBoost money distributed by the Member Banks. The remaining money is allocated to the global community of Meed users. You will receive payments from the bank equal to a proportionate share of the Global Distribution based on the total number of users who have opened an account with a Meed Member Bank at your invitation. 50% of the income you receive from SocialBoost™ will be applied to your Transactional Account and 50% will be applied to your Security Savings Account. 

What is SocialBoost™?SocialBoost™ is a truly unique income opportunity offered by Member Banks to qualifying Meed users. Based on a “give and get” model at the core of Meed’s philosophy, individual users have an opportunity to earn additional income by helping build the Meed Global Community- the more users who join at your invitation, the greater your potential income opportunities for you. At the same time, you are also helping your associated Member Bank contribute to the Meed Global Community. Helping you while helping others, that’s Meed.

How can I find my monthly statement?Your monthly statement is available in the mobile application by selecting the ‘More’ option along bottom of the screen, and then clicking on ‘Account Information > Statements.’

Where is my Meed Member Bank Debit Card accepted?Your Meed Debit Card card is accepted wherever most major credit cards are traditionally accepted.

What is my routing number?Your bank account routing number can be found in the mobile application under ‘More > Account Information > Account Detail’ or online at Meed.net.

What is my current balance?Your current balance is the amount of money in your account at the beginning of a business day. This amount does not include any pending deposits or withdrawals.

What is my available balance?Your available balance is the amount of the funds you have for immediate use. It represents your current balance minus any pending debit card purchases, checks or other debits from your account. The available balance also takes into account any pending deposits.

How do I locate my account number?Your Member Bank account number can be found in the mobile application under ‘More > Account Information > Account Information,’ online at Meed.net.

What happens if I close my Meed Member Bank account before age 59?You may close your Meed Package account before age 59 without any financial penalties, but you will lose all your Meed SocialBoost user referrals. You may re-apply in a year for Meed, but you will start over with zero SocialBoost™ referrals.

What are pending transactions?Pending transactions are transactions that have not yet been fully processed for payment or deposited to your account. Contact your Meed Member Bank for questions regarding pending transactions. Like that coffee you just bought at the cafe, it’s pending but hasn’t cleared your account yet.  

What are alerts?The Meed Mobile Application allows you to personalize alerts which keep you updated on the status of your account, track your spending and monitor against fraud. Enable alerts on the mobile application via ‘More > Alerts’ or online at Meed.net.

How much interest do I earn on my Security Savings Account and Checking Account?Each member bank determines the interest rates for Checking and Security Savings Accounts. Please check with your bank for more information.

How do I update my contact information?You may update your contact information via Meed.net or through the Meed application. In the Meed application, select the ‘More’ option along the bottom of the application screen, then select ‘Account Management > Address'. All information is maintained securely with the Member Bank.

How do I set up direct deposits?Direct deposits can be made by providing your employer with your Meed Member Bank account information. Your Meed Member Bank account and routing numbers can be found in the mobile application under ‘More > Account Information' or online at Meed.net.

How do I find the contact information for my Meed Member Bank?It’s on the back of your debit card. It’s also in the Meed app, located in the ‘More > Contact Us.

How do I close my account?Please contact your Member Bank directly to close your bank account. Unfortunately, Security Savings Accounts and Checking Accounts cannot be closed individually. If you chose to close one account, all Meed Member Bank accounts will be closed pursuant to the bank’s terms and conditions. You will also forfeit your SocialBoost™ rights.

How can I verify who has accepted my invitation and become a Meed user?To protect the privacy of all Meed Users, Meed and its Member Banks cannot disclose any personal information on other Users or their account standings. You can, however, determine who has received an invitation from you, who has opened their invitation and who has applied to a Meed Member Bank on the Meed Mobile Application. Simply open the ‘More > Invite User’ feature. You will not be able to determine if the User has chosen you as their referring User, nor will you be able to determine their account status. The best way to determine if a referral has become a Meed User is to ask them directly.

Do Meed Member Banks offer checkbooks for Meed Member Bank accounts?No, your Meed Member Bank account provides paperless checking and your bank’s debit card works wherever the bank’s debit card network is accepted.

How do I reset my username and/or password?You can request to have your username and/or password changed by clicking on ‘Forgot username/password’. This process may vary by bank.

How do I create a Meed username and password?Once your application has been approved, you will be asked by your Member Bank to create a username and password. Please refer to your new Member Bank’s security guidelines page for more information.

Frequently Asked Questions

Why can’t Meed solve my customer service issues?In order to protect your privacy and account security, only the Meed Member Bank with which you opened your account has access to your personal and account information. All of your private personal information is controlled and stored at the Member Bank. As a result, only the Member Bank can answer specific questions about your account. We have worked really hard with our Member Banks and your privacy and security is very important to us.  

When will Meed be available in my country?Meed is working to expand as quickly as possible. Follow Meed on Facebook and Twitter to be amongst the first to know when we launch in new markets.

Is Meed a pyramid scheme/multi-level marketing company?Absolutely not. First and foremost, Meed’s goal is to connect people with access to Member Banks that offer innovative banking solutions designed for today’s world. SocialBoost™ is designed to create a potential for revenue, based on an interest-sharing model within the Meed Network of Member Banks. This revenue stream is based on creating a global community, should you choose to refer other Meed users. Unlike multi-level marketing initiatives, your network is only comprised of Meed Users you refer directly. It does not employ multi levels of invitees.

What are the services Meed Member Banks offer?Meed Member Banks offer a Checking Account (paperless checking account), an interest-bearing Security Savings Account, Peer-to-peer (P2P) domestic & international transfers between all Meed users, a secured line of credit, and SocialBoost™. Please refer to the terms and conditions issued by your Meed Member Bank for more information on each of these services.

Can I have a joint account?Unfortunately, not at this time. If you would like to establish a separate account for a spouse or family member, please refer them using your email address so they can open their own Meed Member Bank account with a Member Bank.

What kind of card is the Meed Member Bank card?The Meed Member Bank card is a debit card issued by a Member Bank that can be used anywhere the bank’s network permits and is accepted.

What is Meed?Meed is a financial technology company that provides access to a global network of Member Banks. Through the Meed Mobile Application you can access your Member Bank account for the services indicated.

What is GlobeOne™?GlobeOne™ is a worldwide membership organization, committed to improving people’s financial health by providing access to products that support inclusion and financial mobility.

Do I have to join GlobeOne™ before applying to Meed?Yes. You are required to have a GlobeOne™ Member ID in order to signup for Meed and any other member services that GlobeOne™ offers in the future.

Why do Meed’s Member Banks charge a monthly fee?The monthly fee that Member Banks charge is essential to cover the standard bank operating costs of providing the services within the bank package of products.

Is there an overdraft fee?Our users don’t like overdraft fees, and neither do we, so our Member Banks have eliminated them for Meed users!

How do I pay my monthly Subscription fee?The monthly subscription fee is automatically deducted from your Checking Account on a monthly basis. If there are insufficient funds in your DDA, the fee will then be deducted from your line of credit.

What are the fees for a Meed Member Bank account?Meed Member Banks are transparent about all costs associated with your account. The only fees associated with your Meed Member Bank account include: • A monthly Subscription fee of $9.95. • A 2% foreign exchange fee (only for international P2P transfers). • A minimum charge (varies by bank) to cover mailing costs, should you elect to receive paper statements by mail. • If you lose your debit card, there is a charge for a replacement (varies by bank). • ATM withdrawals are free when accessing your account from one of your Member Bank’s ATM machines. Your first two monthly ATM withdrawals are free if you are using an ATM outside of those owned by your Member Bank. Additional withdrawals, transfers and balance inquiries from ATMs at non Meed Member Banks may be assessed a fee. You may also be charged a fee by the ATM operator or any network used.

Why did my application get denied?The decision to provide a Member Bank account rests with the Member Banks themselves. Only the Member Bank reviewing your application can provide information as to why an application may have been approved or denied.

What is the verification process for a Meed User ID?Once you have registered for a Meed ID, you will receive an email from the Member Bank with a verification code. This code is used to verify that you are the person applying for a Meed account. You cannot continue your Meed application unless you verify your identity.

What are the features of a Meed Account?A Meed Account includes a paperless Checking Account, an interest bearing Security Savings Account, Peer-to-peer (P2P) domestic and international transfers between all Meed users, a co-branded debit card, and SocialBoost. In addition to these services, you can also view account balances and find Member Bank ATM locations.

How long does it take to receive my card?Cards are sent from the Member Bank and are typically received within a week of opening your account.

How long does it take to process my application?Applications are processed as soon as possible once received; however, the review timeframe varies by bank.

Can I save an application and complete it later?Absolutely. During the application process your entries will be saved as you go so you can resume the application at a later date. It’s an easy process to complete so don’t worry.

Do I need to have a smartphone to use Meed?Your Member Bank account and services are accessible either through your smartphone or Meed.net. You’ll get a lot more out of your Meed Member Bank account through our mobile application. The app is required for photo check deposits. Although it is possible to access all Bank features through Meed.net, Meed’s Mobile Application is designed primarily for smartphone use and offers Meed Users superior access to bank services wherever there is service.

What are the requirements to apply?If Meed has engaged with Member Banks in your country, you must be 18 years old or older, have a valid government issued ID, and a permanent address.

Can I open a Meed account if I have bad credit or no credit history?Meed’s Member Banks make every effort to provide accounts as acceptable by law. While there is never a guarantee of an account approval, every effort is made to accommodate applications wherever possible, and in compliance with law.

How will I know if I have been approved for a Meed account?Member Bank which is providing Meed Financial Services will confirm your application status through the email address you provided during the application process.

How do I access the Meed Mobile Application?Meed Mobile can now be accessed in two ways: Visit us on your mobile browser, at Meed.net or download the mobile application through the App Store and Android Market respectively.

Do you offer a Mobile application?Yes. Meed’s Mobile Application is available for download on iTunes and Google Android stores.

What happens if I overdraw my Transactional Account?If you have overdrawn your Transactional Account that means that you have exhausted all available balances in your Transactional Account and any available credit in your LOC. You should make a deposit to your Transactional account as soon as possible to cover the shortfall and avoid losing your Meed Account privileges.

How do I send money to another person?Meed Member Banks provide domestic peer-to-peer (P2P) transfers directly through your Meed application to other domestic Meed users. Simply select the ‘P2P Transfer’ option in your Meed Mobile Application or online at Meed.net and follow the simple steps.

How long does it take for money transfers to reach the recipient?Meed User to Meed User transfers occurring during business hours happen in nearly real time aka fast.

Can I transfer money out of my home country to non-Meed users?No. Sorry.

What is a P2P transfer?This feature allows a Meed user to send/receive funds to/from other Meed users. There is no fee domestically and no more than a 2% foreign exchange fee internationally.

What is a Meed Member Bank Security Savings Account?Meed Secured Savings Account, or SSA, is an interest-bearing account that encourages long-term savings. There are withdrawal restrictions until age 59.

How can I move my funds from my Checking Account to my Security Savings Account or my Line of Credit?You can transfer funds from your Checking Account to your Security Savings Account or make a payment to your Line of Credit from within the Mobile App or online at Meed.net. Simply open the ‘Transfer’ menu and follow the simple steps.

Can I borrow more than the 75% of my Security Savings Account balance?Unfortunately, no. Meed Member Banks limit users to the 75% limit as a safety precaution for the user and to help ensure their account remains open.

How often can I borrow against my line of credit?You may borrow against your line of credit as often as you like as long as you have sufficient funds available and your account remains open with your Meed Member Bank.

What happens if I can’t make my Line of Credit payments?Individuals who fall behind on their payments should contact their respective bank to find a solution. Individuals who are unable to make payments may risk the chance of having their account frozen.

What happens if I overdraw my Checking Account?If your Demand Deposit Account doesn’t quite have enough to cover the cost of a purchase, additional funding is automatically covered by any available credit in your Line of Credit account. But if you don’t have sufficient funds available in your Line of Credit, that purchase may sadly be denied.

How do I access my Line of Credit?Access to your Line of Credit account is provided through your Checking Account. There is nothing you need to do to activate your Line of Credit. If there are funds available in your Line of Credit, and you make a purchase where funds are not available in the Checking Account, your Line of Credit is automatically established at 75% of your Security Savings Account balance.

What is a Meed Member Bank Line of Credit?As a user of Meed, we allow you to advance and use up to 75% of your current Security Savings Account balance.

What is a Meed debit card?Your Member Bank will mail you a co-branded debit card.

How can I deposit funds?Funds can be deposited into your account at your Meed Member Bank branches, through direct deposit, by account transfer, through remote check deposit, or via ATM (where applicable under your Member Bank account terms and conditions).

How do I move money from a checking account at another bank to my Meed Member Bank account?You can transfer funds into your Checking Account from external accounts based upon the transfer policies of your non-Meed Member Bank. You may also be able to make a deposit through the remote check deposit on the Meed Mobile Application.

What is a Meed Member Bank Checking Account?A Meed Member Bank Checking Account is a checking account that includes Bill Pay, eChecks, and ATM usage.

What happens if I set up a Bill Pay payment but I do not have sufficient funds in my account?If there are no funds in your Checking Account, then the payment will be applied to your Line of Credit. If your Line of Credit has reached its limit, then the payment will not be processed. An email alert will be sent to you informing you of the returned payment.

Whom can I pay with Bill Pay?Any business which has provided you with an account number and mailing address can be paid using Bill Pay.

How do I set up payees in Bill Pay?Bill Payees can be added by selecting the Bill Pay tab from the ‘More’ Menu on your Meed Mobile Application or online at Meed.net. Select ‘Payee,’ then ‘Add New Payee’

Which accounts can I use for Bill Pay?Funds are always taken first from your Checking Account and then your Security Savings Account. This is done to help limit your interest charges and provide the optimum fiscal management for your financial well-being.

How do I cancel a Bill Pay transaction?You can cancel a Bill Pay transaction in the Bill Pay section of the More Menu on your Meed Mobile Application or online at Meed.net. Select the ‘Scheduled/Recent’ tab, choose the Bill Pay you want to cancel and select the ‘Cancel Payment’ option. The Bill Pay transaction cannot be cancelled after the transaction has already been processed. Refer to your Meed Member Bank bill pay policy for more information.

How do I pay bills?Bills can be paid through the Bill Pay section of the ‘More’ Menu on your Meed Mobile Application or online at Meed.net.

How do I know if my Member Bank offers bill pay?Your app will show whether or not your Member Bank supports the Bill Pay function.

What is Bill Pay?Bill Pay is a simple and convenient way to pay your bills. To make a bill payment, enter the required information in the ‘Bill Pay’ section of the ‘More’ Menu on your Meed Mobile Application or online at Meed.net.

How can I find ATM locations through the Meed Mobile Application?The ATM finder can be found in the ‘More > ATM Finder’ tab.

What is the difference between a Security Savings Account and a Checking Account?Your Checking Account is intended for daily spending needs, while your Security Savings Account is for building savings and potentially long-term wealth. Think of it like this: one for now and one for later.

Can I become a Meed user using my existing bank account?No, you must establish a Meed account with a Meed Member Bank to join Meed.

How do I make a mobile deposit?If available, checks can be deposited directly from your mobile phone. Simply open the More menu and click on Check Deposit, then follow the simple instructions.

Why is my deposit automatically being swept into my Security Savings Account?When signing up with a Meed Member Bank, you are given the option to automatically have the outstanding balance of the Line of Credit automatically reviewed to determine if there is an amount owed. If you choose to automatically move funds from your checking account to the loan payment balance, the funds will be moved automatically to cover the outstanding amount. This is done to help limit your interest charges, and provide automated management tools for your financial well-being. This service is optional and requires you to opt in.

Are there special circumstances that allow me to withdraw from my Security Savings Account?Yes, each Member Bank has established hardship rules that allow users to withdraw funds from their Security Savings Account without penalty. You have the option of withdrawing on demand outside of such hardship rules; however, in such instances your Meed Member Bank accounts will be closed. Please check with your Member Bank for the specific details on qualifying for a hardship withdrawal.

What should I do if I plan to use my card while traveling abroad?You should always alert your bank in advance of traveling abroad so the account isn’t frozen while traveling due to suspicious activity.

What do I do if my account has been compromised or reflects unauthorized charges?Immediately contact your Member Bank and let them know of the situation so they can protect your account and further investigate the circumstances.

My phone/Meed card got stolen. How do I make sure my Meed Member Bank account is safe?As a precaution, you should alert the bank which administers your Meed Member Bank account immediately if your phone or card are ever stolen. Upon alerting your Member Bank, a representative will review your account for any unauthorized transactions. Please note that when you report your card as lost or stolen, we will immediately deactivate your card and send a new card with a new account number to you for your protection. We are very sorry for this inconvenience.

How do I know my money is safe with a Meed Member Bank?Meed Member Banks have made it a priority to be fully compliant with applicable requirements. Your money and your account are held by the respective Member Bank and protected by regulatory oversight.

How do I know my information is secure on the Meed Mobile App?We are proud to have partnered with Kony. Kony is trusted by the world’s largest and most highly regulated companies in industries such as financial services and healthcare, and is committed to the highest levels of security for it’s enterprise customers. 

How can I access the account of a deceased Meed user?We sympathize with your loss and the respective Member Bank associated with the Meed Package account will be able to help identify the steps you need to take.

Where can I find more information on a Member Bank’s privacy policy?Once you have been approved by a Meed Member Bank, their privacy policy can be found on the Meed application under ‘More > Privacy Policy’ or by logging into your account online at Meed.net.

Where can I find more information on Meed privacy policies?The Meed privacy policy can be found at Meed.net.

Do I have to pay taxes on my SocialBoost™ earnings?While tax laws differ locally, SocialBoost™ earnings are likely subject to taxation. Please check with your Member Bank or local tax outlets for more information.

How many people can I invite to Meed?There is no limit to the number of people you can invite to Meed. You increase your potential for SocialBoost™ earnings, as well as the entire Meed community’s potential for SocialBoost™ earnings by referring as many people as possible.

Can I switch my Meed invite/referral to someone else?Not at this time. Once you list a current Meed user as your referral, they maintain that status for the duration of your Meed Member account.

Can I invite Meed users from other territories into my SocialBoost™ network?Yes, your Meed network is not limited by the country you live in. You may invite people from other territories to join Meed as long as Meed is offered in each respective country.

Am I obligated to refer new Meed users?No, you are not obligated to refer prospective users to Meed. However, if you would like to participate in SocialBoost™, you need to refer at least 1 user, who opens an account with a Meed Member Bank. Meed users who refer other users have a greater opportunity for SocialBoost™ earnings potential.

Why is my SocialBoost™ income low?SocialBoost™ income is correlated to the number of users you’ve invited whom have opened an account with a Meed Member Bank and accumulated interest charges on their Line of Credit, and the size of the global community. The more Users you invite who utilize their Meed Member Bank Line of Credit, the greater potential for your Personal Community income and your distribution from the Global Community. Your SocialBoost™ income can grow as your Personal Community and the global community grow and as Meed expands its network. Help the community grow, and watch your income grow.

Why is my SocialBoost™ income inconsistent?SocialBoost™ income is determined by the borrowing activity in the Meed network. As a result, income will vary each month.

Why am I not receiving my invited Users’ SocialBoost™ distribution?SocialBoost™ is available to active users with an open account. If your account is not open, you will not be eligible to receive SocialBoost™ distributions. If you feel you are not receiving the appropriate distribution, refer to the SocialBoost™ graphs located on the mobile application and verify your number of invited Users. Remember, your invited users must have incurred interest charges on their Line of Credit in the prior month and identified you as their referring user in order for you to receive a Personal Community SocialBoost™ distribution for that month.

When do I receive my SocialBoost™ distributions?You will receive your SocialBoost™ distributions on a monthly basis, within two weeks of your statement.

How can I calculate my SocialBoost™ income?The best way to learn about your SocialBoost™ income is to refer to the SocialBoost™ graphs located on the mobile application. There you can see the historical income you have received for SocialBoost™ as well as your total number of invited users, your historical savings and the Personal and Global distribution totals. In order to respect the privacy of our users, your Member Bank and Meed will not disclose any specific credit information or account balances of your invited users.

Can I have my entire SocialBoost™ distribution deposited to my Checking Account or Security Savings Account?No, SocialBoost™ distributions will always be split equally between your Security Savings Account and Checking Account.

How does SocialBoost™ work?SocialBoost™ is the bank giving back interest charges accrued on Lines of Credit. First, individual users with open accounts receive payments from the bank equal to 25% of the amount of interest billed to their invitees LOC as their Personal Distribution each month. That accounts for approximately half of the SocialBoost money distributed by the Member Banks. The remaining money is allocated to the global community of Meed users. You will receive payments from the bank equal to a proportionate share of the Global Distribution based on the total number of users who have opened an account with a Meed Member Bank at your invitation. 50% of the income you receive from SocialBoost™ will be applied to your Transactional Account and 50% will be applied to your Security Savings Account. 

What is SocialBoost™?SocialBoost™ is a truly unique income opportunity offered by Member Banks to qualifying Meed users. Based on a “give and get” model at the core of Meed’s philosophy, individual users have an opportunity to earn additional income by helping build the Meed Global Community- the more users who join at your invitation, the greater your potential income opportunities for you. At the same time, you are also helping your associated Member Bank contribute to the Meed Global Community. Helping you while helping others, that’s Meed.

How can I find my monthly statement?Your monthly statement is available in the mobile application by selecting the ‘More’ option along bottom of the screen, and then clicking on ‘Account Information > Statements.’

Where is my Meed Member Bank Debit Card accepted?Your Meed Debit Card card is accepted wherever most major credit cards are traditionally accepted.

What is my routing number?Your bank account routing number can be found in the mobile application under ‘More > Account Information > Account Detail’ or online at Meed.net.

What is my current balance?Your current balance is the amount of money in your account at the beginning of a business day. This amount does not include any pending deposits or withdrawals.

What is my available balance?Your available balance is the amount of the funds you have for immediate use. It represents your current balance minus any pending debit card purchases, checks or other debits from your account. The available balance also takes into account any pending deposits.

How do I locate my account number?Your Member Bank account number can be found in the mobile application under ‘More > Account Information > Account Information,’ online at Meed.net.

What happens if I close my Meed Member Bank account before age 59?You may close your Meed Package account before age 59 without any financial penalties, but you will lose all your Meed SocialBoost user referrals. You may re-apply in a year for Meed, but you will start over with zero SocialBoost™ referrals.

What are pending transactions?Pending transactions are transactions that have not yet been fully processed for payment or deposited to your account. Contact your Meed Member Bank for questions regarding pending transactions. Like that coffee you just bought at the cafe, it’s pending but hasn’t cleared your account yet.  

What are alerts?The Meed Mobile Application allows you to personalize alerts which keep you updated on the status of your account, track your spending and monitor against fraud. Enable alerts on the mobile application via ‘More > Alerts’ or online at Meed.net.

How much interest do I earn on my Security Savings Account and Checking Account?Each member bank determines the interest rates for Checking and Security Savings Accounts. Please check with your bank for more information.

How do I update my contact information?You may update your contact information via Meed.net or through the Meed application. In the Meed application, select the ‘More’ option along the bottom of the application screen, then select ‘Account Management > Address'. All information is maintained securely with the Member Bank.

How do I set up direct deposits?Direct deposits can be made by providing your employer with your Meed Member Bank account information. Your Meed Member Bank account and routing numbers can be found in the mobile application under ‘More > Account Information' or online at Meed.net.

How do I find the contact information for my Meed Member Bank?It’s on the back of your debit card. It’s also in the Meed app, located in the ‘More > Contact Us.

How do I close my account?Please contact your Member Bank directly to close your bank account. Unfortunately, Security Savings Accounts and Checking Accounts cannot be closed individually. If you chose to close one account, all Meed Member Bank accounts will be closed pursuant to the bank’s terms and conditions. You will also forfeit your SocialBoost™ rights.

How can I verify who has accepted my invitation and become a Meed user?To protect the privacy of all Meed Users, Meed and its Member Banks cannot disclose any personal information on other Users or their account standings. You can, however, determine who has received an invitation from you, who has opened their invitation and who has applied to a Meed Member Bank on the Meed Mobile Application. Simply open the ‘More > Invite User’ feature. You will not be able to determine if the User has chosen you as their referring User, nor will you be able to determine their account status. The best way to determine if a referral has become a Meed User is to ask them directly.

Do Meed Member Banks offer checkbooks for Meed Member Bank accounts?No, your Meed Member Bank account provides paperless checking and your bank’s debit card works wherever the bank’s debit card network is accepted.

How do I reset my username and/or password?You can request to have your username and/or password changed by clicking on ‘Forgot username/password’. This process may vary by bank.

How do I create a Meed username and password?Once your application has been approved, you will be asked by your Member Bank to create a username and password. Please refer to your new Member Bank’s security guidelines page for more information.

< Frequently Asked Questions